Golden Gate Capital is seeking to sell its majority stakes in women’s apparel retailer, J Jill to an affiliate of Arcapita Bank, Reuters reports. The private investment firm has not disclosed the financial details of the transaction.
As a part of the agreement, the current CEO of J Jill, PaulaBennett, will continue in his role and Golden Gate will remain a minority shareholder. J Jill was financially advised by Bank of America Merrill Lynch, while Kirkland & Ellis acted as legal advisor.
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